Upstream Share Discussion Threads

[master rsi] 23/4/2024 16:12

How the UPS are performing today

[master rsi] 23/4/2024 15:52

Saint George Day

Saint George is the patron saint of England in
a tradition established in the Tudor period,
based in the saint's popularity during the times
of the Crusades and the Hundred Years' War.

[master rsi] 23/4/2024 15:36

Bushveld updates Vametco mineral resources
(Sharecast News) - Bushveld Minerals updated the market on mineral resources and reserves for the Vametco vanadium mine near Brits on the Western Limb of the Bushveld Complex on Tuesday.

The AIM-traded firm said total ore reserves as of 31 December had increased by 10% compared to the previous estimate, totaling 293,400 tonnes vanadium oxide in magnetite at a grade of 2% percent vanadium oxide.

It said the combined inferred and indicated mineral resource, comprising three sams - lower, intermediate and upper - stood at 180.4 million tonnes at an average grade of 1.98% vanadium oxide, with an average magnetite content of 35%.

Within that, the ore reserve in the probable category for the three seams was reported at 51 million tonnes at an average grade of 2% percent vanadium oxide, with an average magnetite content of 28.9%.

The lower seam - the primary ore seam and the thickest - had a probable reserve of 41.2 million tonnes at an average grade of 2.03% vanadium oxide.

Bushveld said the decrease in the total 2023 mineral resource, by 0.61% fewer tonnes compared to the 2022 estimate, was due to mining activities over the last 12 months, with no mineral resource exploration carried out during the period.

The year-on-year depletion of 1.1 million tonnes was offset by an increase in tonnage through improved definition of the existing pit design and an adjustment to modifying factors, resulting in an increase in total ore reserves from 46.4 million tonnes to 51.0 million tonnes as of 31 December.

That adjustment was based on pit-to-plant reconciliation production data supplied by Bushveld Vametco Alloys, leading to a significant increase in upper seam ore tonnes.

At 1452 BST, shares in Bushveld Minerals were down 42.22% at 0.65p

[master rsi] 23/4/2024 15:03

DOW

On the up with 150 points higher

[master rsi] 23/4/2024 14:01

GSTechnologies raises GBP1.3 million through share placing

(Alliance News) - GSTechnologies Ltd on Tuesday announced it has raised funds to contribute towards its GS Money strategy.

The Perth, Australia-based fintech company raised GBP1.3 million through a placing of approximately 119.0 million shares at 1.05 pence each, equating to 6.2% of currently issued share capital.

"Our stated strategy with GS Money is to make cross-border payments quick and affordable to an addressable market of millions of participants by netting and settling trades through a stablecoin-based payments network," said GSTechnologies.

The company will use proceeds from the placing, which was facilitated by CMC Markets PLC, to accelerate the implementation of this strategy.

During the last year the company made a number of acquisitions including the online banking solutions firm Angra Global Ltd.

Looking forward GSTechnologies said it may make further acquisitions to expand its offerings and capabilities.

GSTechnologies shares were down 13% to 1.07 pence each in London on Tuesday afternoon.

[master rsi] 23/4/2024 13:03

MARKET REPORT
LONDON MARKET MIDDAY: FTSE 100 pushes to new high; AB Foods surges

(Alliance News) - The FTSE 100 hit another intraday high on Tuesday, driven by data providing some "fresh optimism" about the UK economy.

Amongst individual stocks, AB Foods was the star of the morning, thanks to a jump in its interim profit. JD Sports also rose, after agreed to buy US sports fashion retailer Hibbett for just over USD1 billion.

The FTSE 100 index was up 47.48 points, 0.6%, at 8,071.35. The FTSE 250 was up 137.12 points, 0.7%, at 19,736.51, and the AIM All-Share was up 4.38 points, 0.6%, at 753.56.

The Cboe UK 100 was up 0.5% at 805.72, the Cboe UK 250 was up 0.6% at 17,110.56, and the Cboe Small Companies was up 0.4% at 15,101.94.

In European equities on Tuesday, the CAC 40 in Paris was up 0.5%, while the DAX 40 in Frankfurt was up 0.9%.

"No sooner had the FTSE 100 hit a new record closing level, the blue-chip index has now scored another goal by achieving a new intraday high at 8,075. This positive showing is exactly what's needed to help repair the reputation of the UK stock market. It's going to be a slow process but every little helps," said Russ Mould, investment director at AJ Bell.

As well as new records, the a slew of flash purchasing managers' index data grabbed market attention on Tuesday.

Notably, the headline seasonally adjusted S&P Global flash UK PMI composite output index edged up to 54.0 points in April from 52.8 in March. The reading indicates an expansion of growth, rising further above the 50.0 no-change mark, and marked an 11 month high.

"Today's business activity PMI data should raise fresh optimism over the health of the UK economy," said Matthew Ryan, analyst at Ebury.

"Activity in the key services sector continues to rebound at a solid pace, and appears to be fuelling the recovery, helping lift the composite index to its highest level in a year.

"Not only does recent data suggest that Britain's economy very likely emerged from recession at the beginning of the year, but that a decent pick-up in growth could be on the way in the second quarter."

Still to come on Tuesday, there is PMI data from the US out at 1445 BST.

Stocks in New York were called higher, ahead of the reading. The Dow Jones Industrial Average was called up 0.1%, the S&P 500 index up 0.2%, and the Nasdaq Composite up 0.3%.

The pound was quoted at USD1.2355 at midday on Tuesday in London, higher compared to USD1.2336 at the equities close on Monday. The euro stood at USD1.0660, up against USD1.0642. Against the yen, the dollar was trading at JPY154.79, virtually unchanged compared to JPY154.78.

In the FTSE 100, AB Foods jumped 9.5%.

In the 24 weeks to March 2, AB Foods reported pretax profit of GBP881 million, up 37% from GBP644 million the year prior. Revenue edged up 2.3% to GBP9.73 billion from GBP9.56 billion a year before.

In response, AB Foods hiked its interim dividend by a substantial 46% to 20.7p from 14.2p.

"The group has delivered a strong first half performance and is on track to deliver significant growth in both profitability and cash generation ahead of expectations at the start of this financial year," AB Foods said in a statement.

JD Sports rose 6.3%, after it said it has signed a binding agreement to buy US sports fashion retailer Hibbett for just over USD1 billion.

The Manchester, England-based sportswear retailer said it will pay USD87.50 per Hibbett share in cash. Hibbett is Nasdaq-listed, and its shares closed on Monday in New York at USD72.49, up 1.9% on the day, for a USD855.14 million market capitalisation.

"Hibbett's footprint is highly complementary, adding a stronger presence in communities across the southeastern US, where we currently have a limited presence. It will also provide a stronger platform for the rollout of the JD fascia in the US," commented JD Sports CEO Regis Schultz.

Ocado jumped 5.7%, whilst Marks & Spencers rose 1.6%.

According to Kantar data, Ocado Retail was the fastest growing retailer this month. The online-only grocer is a joint venture between Ocado and Marks & Spencer.

The firm improved sales by 12.5% in the latest 12 weeks to GBP638 million, ahead of the total online market, which rose by 6.8%, to account for 1.9% of all take-home sales.

On the other hand, Anglo American lost 2.9%, dropping to the bottom of the index.

Anglo American said it was "pleased" with its production performance in the first three months of 2024, largely maintaining full-year guidance but cutting its output target for diamond operations.

The London-based mining company said copper production rose 11% to 198,000 tonnes for the first quarter of 2024, compared to 178,000 tonnes in the corresponding period a year before.

In the FTSE 250, Ferrexpo jumped 8.6%, after it reported its best quarterly performance since the beginning of the full-scale invasion of Ukraine in February 2022.

The Baar, Switzerland-based iron ore pellet producer, with operations in Ukraine, said total commercial production during the first quarter of 2024 more than doubled to 2.1 million tonnes from 953,794 tonnes last year.

Executive Chair Lucio Genovese said: "During the quarter, we were once again able to export from Ukrainian ports, allowing us to export larger volumes to Europe and resume sales to Middle Eastern, North African, and Asian customers."

Brent oil was quoted at USD86.93 a barrel at midday in London on Tuesday, flat compared to USD86.92 late Monday. Gold was quoted at USD2,299.30 an ounce, lower against USD2,337.50.

[master rsi] 23/4/2024 12:20

How the UPS are performing today

[master rsi] 23/4/2024 12:02

Getech wins new contract with East Star

(Sharecast News) - Subsurface resources location company Getech has won a new contract with Kazakhstan-focussed copper exploration business East Star Resources.

Getech said on Tuesday that the contract will see it locate porphyry copper deposits in Kazakhstan and was backed by the BHP Xplor 2024 accelerator programme - marking the first time its Globe geoscience platform will be used to locate porphyry copper.

The AIM-listed group noted that the contract win builds on its joint venture agreement with East Star Resources, announced last month, to explore sedimentary copper deposits in Kazakhstan. For this contract aimed at locating porphyry copper, the company will receive a fee for exploration services.

Chief executive Richard Bennett said: "It is particularly pleasing to be selected for repeat projects with both the BHP Xplor accelerator programme, and East Star. Importantly, I believe awareness, of our ability to make mineral exploration less risky and more cost-effective, is growing amongst explorers like East Star who are looking for assets to support the energy transition. This is a key part of our strategy and while this is our first contract to locate porphyry copper, given its value as a resource, we are hopefully [sic] that it will be the first of many."

As of 1135 BST, Getech shares were up 6.67% at 8.80p.

[master rsi] 23/4/2024 11:40

THG hails Beauty division performance; expects interim revenue growth

(Alliance News) - THG PLC on Tuesday reported continued sales momentum in its first quarter, with its Beauty division driving revenue.

The Manchester-based e-commerce platform said revenue in the three months to March 31 dipped 2.0% to GBP459.9 million, from GBP469.4 million a year ago.

However, THG noted that its Beauty division performed strongly, with its sales rising by 5.4% to GBP267.6 million, compared to GBP253.9 million the year before. This was due to "targeted changes to geographic strategy through 2023, focusing on more profitable customers and territories closest to our global distribution hubs," the firm explained.

Looking ahead, the firm said its full-year expectations and medium term guidance remain unchanged and expects a return to 9% adjusted earnings before interest, tax, depreciation and amortisation margins in the medium term.

It also anticipates revenue growth in its first half to be in the range of 2.0% to 5.0%. In the first half of 2023, THG reported revenue of GBP538.7 million.

Chief Executive Officer Matthew Moulding: "Following the group's return to revenue growth in [the fourth quarter of 2023], it's pleasing to report an acceleration in [the first quater], which is testament to the hard work and dedication of our people, who've remained focused on the task in hand despite the tough macro-economic backdrop.

[master rsi] 23/4/2024 09:55

KEEP and EYE

GGP 5.80p (5.70 v 5.90p )

The chart today with the early mark-down shows a DOUBLE BOTTOM has been formed and also the share price did reach the Lower Bollinger Band ( buy time they say ). Gold price has gone down from $2,400 to $2,300 in a couple of days.

[master rsi] 23/4/2024 09:31

COMMODITIES $

At the moment Oil is rising and Metals are lower

Brent Oil 87.88 +0.88 +1.01% Crude Oil WTI 82.75 +0.85 +1.04% Gold 2,308.03 -19.40 -0.83% Silver 27.005 -0.240 -0.88% Copper 4.4143 -0.0617 -1.37%

[master rsi] 23/4/2024 09:18

MARKET REPORT
LONDON MARKET OPEN: AB Foods profit soars boosting interim dividend

(Alliance News) - Stock prices in London continued to build on Monday's gains early on Tuesday, thanks to sentiment boosted by the prospect of interest rate cuts.

In early corporate news, Primark-owner AB Foods took the spotlight, thanks to higher interim profit and a dividend to match it.

The FTSE 100 index opened up 33.06 points, 0.4%, at 8,056.93. The FTSE 250 was up 54.48 points, 0.3%, at 19,653.87, and the AIM All-Share was up 2.14 points, 0.3%, at 751.32.

The Cboe UK 100 was up 0.3% at 804.24, the Cboe UK 250 was up 0.2% at 17,036.88, and the Cboe Small Companies was up 0.1% at 15,055.24.

In European equities on Tuesday, the CAC 40 in Paris was up 0.3%, while the DAX 40 in Frankfurt was up 0.7%.

Stocks in London got a boost on Monday, after a member of the Bank of England's interest rate-setting committee said he thinks UK inflation could return to the target level and stay there for longer than the central bank's own predictions.

Dave Ramsden said the UK is no longer an "outlier" but a "laggard" when it comes to its inflation performance, meaning it is slowly but surely catching up with international peers including the US and the eurozone.

The FTSE 100 closed up at a new closing high on Monday and achieved an intraday high of 8,044.98, a touch off its best-ever level.

The pound was quoted at USD1.2354 early on Tuesday in London, higher compared to USD1.2336 at the equities close on Monday. The euro stood at USD1.0667, higher against USD1.0642. Against the yen, the dollar was trading at JPY154.81, up compared to JPY154.78.

In early economic news, investors were digesting the latest Kantar data.

Kantar said annual UK grocery price inflation ebbed to 3.2% in the four weeks to April 14, its lowest level since February 2022, and down from 4.5% in March.

For the same four-week period, the market research firm said overall take-home grocery sales rose 3.3%. For the 12 weeks to April 14, total grocery sales rose 4.3% to GBP33.92 billion from GBP32.51 billion a year prior.

Fraser McKevitt, head of retail and consumer insight at Kantar, explains: "Higher prices have played a role in reaching that record spend figure, but the number of chocolate eggs sold in the seven days to Easter was also 3% higher this spring than last, with 37% of consumers buying one in that week. Hot cross buns were even more popular, enjoyed by 45% of Britons."

Ocado Retail was the fastest growing retailer this month. The online-only grocer is a joint venture between Ocado Group and Marks & Spencer Group.

Year-on-year sales at Britain's two largest grocers, Tesco and Sainsbury's, climbed by 6.8% and 5.9% respectively in the 12-week period to GBP9.28 billion and GBP5.18 billion. Further, their shares of the market nudged up by 0.4 percentage points each to 27.4% and 15.3% respectively.

Shares in Ocado, Marks & Spencer, Tesco and Sainsbury were up 4.7%, 1.7%, 1.3%, and 1.1%, respectively.

Elsewhere in the FTSE 100, Primark owner AB Foods shot up 7.3% to the top of the index.

AB Foods reported that pretax profit jumped 37% to GBP881 million in the 24 weeks ended March 2, from GBP644 million a year earlier.

Revenue rose to GBP9.73 billion from GBP9.56 billion.

On the back of higher profit, the company upped its interim dividend by 46% to 20.7p from 14.2p.

Looking ahead, AB Foods said it is on track to deliver growth in both profitability and cash generation ahead of expectations.

JD Sports rose 1.8%, after the sports retailer announced plans to buy Hibett for an enterprise value of USD1.11 billion.

Hibbett is listed on the Nasdaq in the US, and is a Birmingham, Alabama sports fashion-inspired retailer. It is located in 36 states across the US, JD noted.

"The transaction represents an important strategic milestone for the group, accelerating its growth plans in North America and aligning with the group's stated strategy of enhancing its presence in the world's biggest and most attractive sportswear market," it said.

In the FTSE 250 index, Ferrexpo jumped 8.7%.

The Baar, Switzerland-based producer of iron ore pellets said commercial production rose to 2.0 million tonnes of iron ore pellets and concentrate in the first quarter of 2024. This was up from 677,168 tonnes in the fourth quarter.

"This is our best quarterly performance since the full-scale invasion of Ukraine and is a tribute to the significant contribution of our workforce that has worked tirelessly since February 2022 to maintain operations in exceptionally challenging conditions," said Executive Chair Lucio Genovese.

In Asia on Tuesday, the Nikkei 225 index in Tokyo was up 0.3%. In China, the Shanghai Composite was down 0.7%, while the Hang Seng index in Hong Kong was up 1.8%. The S&P/ASX 200 in Sydney closed up 0.5%.

In the US on Monday, Wall Street ended higher, with the Dow Jones Industrial Average up 0.7%, the S&P 500 up 0.9% and the Nasdaq Composite up 1.1%.

Brent oil was quoted at USD87.26 a barrel early in London on Tuesday, up from USD86.92 late Monday. Gold was quoted down at USD2,309.50 an ounce against USD2,337.50.

Still to come on Tuesday's economic calendar, there is PMI data from the eurozone and the UK out at 0900 BST and 0930, respectively.

[master rsi] 23/4/2024 08:32

FTSE

Moving higher from the start with 34 points

[thelung] 23/4/2024 07:31

Thanks for the chart yesterday - EST JORC released this morning

[apotheki] 23/4/2024 07:27

Hemogenyx Pharmaceuticals plc (LSE: HEMO), the biopharmaceutical group developing new therapies and treatments for blood diseases....

[apotheki] 23/4/2024 07:23

KAVANGO RESOURCES PLC / LSE:KAV

Hillside Prospect 2 Assay Results

ZIM: 9.95g/t gold intercepted over 7.2m Prospect 2

Kavango Resources plc (LSE: KAV), the Southern Africa focussed metals exploration company, is pleased to announce the first assay results from the Hillside Prospect 2 gold project ("Prospect 2") in Matabeleland, southern Zimbabwe.

Highlights

· Hole BRDD001 was a scoping hole sited to target mineralisation below multiple sets of artisanal workings on the northern margin of a broad deformation zone.

· BRDD001 was drilled to a total depth of 400.40 m and intersected an intensely deformed and well mineralised zone, 7.2m wide, hosting gold and associated sulphides in anastomosing shears, at a relatively shallow depth.

· Best results* in the hole include:

- 7.2 m @ 9.95 g/t gold from 50.64 m and including 1.61 m @ 31.57 g/t gold.

- 2.00 m @ 2.12 g/t gold from 86.00 m.

· An Induced Polarisation (IP) survey identified a series of IP (chargeability & resistivity) anomalies interpreted to represent a set of anastomosing shears hosted within a broad deformation zone, approximately 700m wide.

- There are no artisanal workings over interpreted additional shears in the central part of the deformation zone.

- Kavango intends to test the gold-bearing potential of these shears in future exploration by drilling a fence of holes to test for a bulk-minable gold deposit across the entire zone.

· Results are pending for NSDD001 (Prospect 3) located on the southern end of the deformation zone.

*All quoted thicknesses are apparent down hole intersection thicknesses

Ben Turney, Chief Executive of Kavango Resources, commented:

"Results from Prospect 2 at Hillside are even stronger than those we've recently reported at Prospect 4. The 7.2m wide zone running at 9.95g/t is significant in itself, but viewed in the context of the other gold intercepts in Hole BRDD001 the open-pit potential is clear.

The fact that the 7.2m higher-grade zone is less than 50m below surface is hopefully a promising indicator for follow-up exploration.

Encouragingly, Hole BRDD001 appears to have intercepted the gold-bearing shear zones Hillary Gumbo interpreted from the results of the Induced Polarisation survey over this target. This is further confirmation that the IP we are using is identifying the right structures, following the same success we had at Prospect 4 with Hole SKDD001. We are confident Hillary's IP configuration will prove to be a powerful tool to help us make commercial gold discoveries.

We are now planning more drilling down dip and along strike to evaluate Prospect 2. This is an extremely positive start for this prospect and further underlines Zimbabwe's potential to host a multitude of large-scale, bulk-minable gold deposits."

[master rsi] 22/4/2024 23:03

Director dealings:
(Sharecast News) - Windar Photonics revealed on Monday that non-executive director Paul Hodges had acquired 220,000 ordinary shares in the AIM-listed wind sensor developer.

Hodges, who was appointed to the board of Windar in March 2021, purchased the shares on Friday at an average price of 42.18p each, for a total value of £92,799.96.

Following the transaction, Hodges holds an interest in 3.47 ordinary Windar shares, representing 4.3% of the issued share capital of the company.

Top Director Buys

Windar Photonics (WPHO)

Director name: Hodges,Paul

Amount purchased: 220,000 @ 42.18p

Value: £92,799.96

Lindsell Train Inv Trust (LTI)

Director name: Lindsell,Michael

Amount purchased: 50 @ 80,203.40p

Value: £40,101.70

Lindsell Train Inv Trust (LTI)

Director name: Lindsell,Michael

Amount purchased: 50 @ 80,200.05p

Value: £40,100.02

M&c Saatchi (SAA)

Director name: Sweetland,Christopher Paul

Amount purchased: 20,000 @ 183.75p

Value: £36,750.00

Taseko Mines Limited Npv (di) (TKO)

Director name: Dhir,Anu

Amount purchased: 8,800 @ 348.00p

Value: £30,624.00

Close Brothers Group (CBG)

Director name: Pain,Mark

Amount purchased: 4,000 @ 443.60p

Value: £17,744.00

Blackrock Frontiers Investment Trust (BRFI)

Director name: Taylor-Smith,Lucy

Amount purchased: 10,122 @ 147.29p

Value: £14,908.41

Wood Group (john) (WG.)

Director name: Gilmartin ,Ken

Amount purchased: 4,439 @ 150.00p

Value: £6,658.50

Wise Class A (WISE)

Director name: Duhon,Terri

Amount purchased: 308 @ 810.78p

Value: £2,497.19



Top Director Sells

Games Workshop Group (GAW)

Director name: Tongue,Rachel

Amount sold: 4,974 @ 9,478.00p

Value: £471,435.71

Billington Holdings (BILN)

Director name: Smith ,Mark

Amount sold: 57,979 @ 478.26p

Value: £277,289.26

Billington Holdings (BILN)

Director name: Taylor,Trevor

Amount sold: 43,484 @ 478.26p

Value: £207,965.75

Games Workshop Group (GAW)

Director name: Tongue,Rachel

Amount sold: 1,545 @ 9,510.00p

Value: £146,929.50

Games Workshop Group (GAW)

Director name: Tongue,Rachel

Amount sold: 981 @ 9,514.00p

Value: £93,332.34

Cavendish Financial (CAV)

Director name: Morse,Julian

Amount sold: 596,957 @ 10.90p

Value: £65,068.31

Cavendish Financial (CAV)

Director name: Procter ,Ben

Amount sold: 210,825 @ 10.90p

Value: £22,979.92